PG&E Corp. Q1 Profit Increases, beats estimates

(RTTNews) - PG&E Corp. (PCG) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $732 million, or $0.34 per share. This compares with $569 million, or $0.27 per share, in last year's first quarter.

Excluding items, PG&E Corp. reported adjusted earnings of $800 million or $0.37 per share for the period.

Analysts on average had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.6% to $5.86 billion from $6.21 billion last year.

PG&E Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $732 Mln. vs. $569 Mln. last year. -EPS (Q1): $0.34 vs. $0.27 last year. -Revenue (Q1): $5.86 Bln vs. $6.21 Bln last year.

-Guidance: Full year EPS guidance: $1.33 to $1.37